Survey: Online, Mobile are Most Popular Banking Channels, Branches Remain Popular

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​WASHINGTON — Nearly three-quarters of Americans (72 percent) are now choosing to most often access their bank accounts via online and mobile platforms, according to a recent survey conducted by Morning Consult on behalf of the American Bankers Association. The number of those who identified online banking via laptop or PC as their top option rose to 42 percent, while those who used mobile banking grew to 30 percent, up 4 percent compared with last year’s survey. Nearly 1 in 5 people (18 percent) continue to conduct their transactions in person at their bank’s branch most frequently.

“As digital mediums become omnipresent in consumers’ everyday lives, banks have invested in these channels to help people more seamlessly manage their accounts,” said Nessa Feddis, ABA’s senior vice president and deputy chief counsel for consumer protection and payments. “Banks offer a variety of options for people to securely access their money at any time in the way that is most convenient for them – whatever their preference.”

An infographic of the results is available here. More results from the Morning Consult survey will be released at ABA’s Annual Convention in New York on Oct. 22.

When asked “Which method do you use most often to manage your bank account?” consumers responded as follows:

Online (Laptop or PC) – 42 percent;

Mobile (app on smartphone or tablet) – 30 percent;

Bank Branches – 18 percent;

ATM – 5 percent;

Telephone – 2 percent; and

Mail – 1 percent.

A breakdown of age demographics shows different preferences among different generations. Half of Americans aged 18-34 (51 percent) use mobile banking the most, while more than half of those aged 65 and older (56 percent) do most of their banking online. Visiting a bank branch is the second most popular option with Americans aged 45 and older (21 percent), while only 13 percent of those aged 18-34 prefer to visit a branch to conduct transactions. [See infographic for a full breakdown of top banking preferences by age]

“Mobile banking has truly gone mainstream in recent years and continues to gain traction among consumers of all ages,” said Feddis. “At the same time, banking in person at branches has consistently maintained its appeal to a large number of people. While many consumers have a favorite banking channel, we’re continuing to see most bank customers using a mix of the account management methods available to them.”

About the Survey

This poll was conducted by Morning Consult on behalf of the American Bankers Association from September 11-12, 2018, among a national sample of 2,201 adults. The interviews were conducted online and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.

The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans.